REO's or Properties owned by banks are houses that were foreclosed by the lenders and are now for sale by the banks. Most of these properties are in excellent condition and affordably priced well below their market comparables. These homes are just waiting for a new owner.

As we all know, due to the aggressive pricing on these previous foreclosure properties, they sell very quickly. If you are interested in a buying a home at a discounted REO price, I suggest signing up for our Mail list on the RIGHT >>>>> This allows you to know about our Bank Owned Properties before they are made available to the public, other realtors, and your competition. Normally we will send you information on these REO's before they are even priced by the banks!

What are Bank Owned Properties?

Bank owned properties, commonly called REO's, are properties that have been foreclosed by the lender. When a homeowner fall behind on payments, missing 3 or 4 months worth of mortgage payments, the bank or lender starts the foreclosure process. This process can take months, but eventually the homeowner either catches up on payments or the bank forecloses on the property.

Once the bank completes the foreclosure process, they assume possession of the property and through Real Estate Office like ours, they sell these bank owned properties -- normally at very discounted properties.

These REO properties are normally in good condition, and those that have damage are normally repaired by the banks prior to being listed for sale by our office.

How can I buy a Bank Owned Property?

Anyone can buy a Bank Owned Property!!!!

Previously, these REO properties were only made available to real estate investors. But now, through our Realty Office anyone can purchase these properties owned by the banks. All you have to do is make sure you qualify for a mortgage loan, so you can be able to close on the purchase of the REO property.

If you have been waiting to purchase your first home, or interested in investing in buying an investment property, these REO properties are a great source, and value.

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